Gain Capital Holdings (NYSE:GCAP), a global provider of online trading services, announced today the launch of GTX Direct, the new prime brokerage service offering for its electronic communications network (ECN) for institutional and high net worth investors.
GTX Direct allows qualified investors without an existing FX prime brokerage relationship to leverage GAIN Capital's central clearing facilities in order to access the liquidity available in the GAIN GTX marketplace. Previously, only clients with existing bank FX prime brokerage relationships could access the best available pricing in the marketplace.
"GTX Direct is a unique service that addresses the needs of individuals and institutions who are looking for a more diverse pool of liquidity," said Vincent Sangiovanni, chief operating officer, GAIN GTX. "Now, clients can leverage GAIN Capital's longstanding FX trading relationships to trade on all prices in the GTX marketplace, whether from participating banks or other clients, with the added advantage of a short account opening process. Our ability to provide clients with security and transparency of their assets in segregated accounts further enhances the GTX Direct offering," added Mr. Sangiovanni.
GTX Direct is the latest development for GAIN Capital's institutional business, which has experienced strong client and volume growth since its launch in early 2010. In less than one year, GTX has attracted a deep pool of liquidity providers, including a network of 10 prime brokers and a diverse client base of buy-side traders.